Anson Resources Secures Lithium Supply Deal with LG Energy Solution

Anson Resources Limited, headquartered in Newport Beach, CA, has announced a crucial offtake agreement with LG Energy Solution for battery-grade lithium carbonate from its Paradox Basin project in Utah. This agreement calls for a supply of up to 4,000 tonnes annually, starting operations in 2027. This agreement represents 40% of the initial production capacity of the project, projecting a total annual output of 10,000 tonnes.

The signing with LG Energy Solution validates the market demand for Anson’s lithium and marks a significant milestone in supporting the establishment of a U.S.-based critical minerals supply chain. This move aligns with the U.S. Inflation Reduction Act, encouraging local lithium production and securing supplies for new battery manufacturing facilities in the U.S.

LG Energy Solution is expanding its operations in North America, with multiple facilities either operational or under construction, working closely with major automakers. This partnership confirms Anson’s strategic position in the growing U.S. market for electric vehicle battery materials.

Completion of this partnership hinges on Anson’s final investment decision and the start of commercial production at the planned Paradox Basin project. Anson additionally operates a Sample Demonstration Plant and continues to negotiate with other potential customers globally.